Sunday, October 23, 2011
Steel consortium asks PMO for financial help in Hajigak project
Expressindia » Story
Priyadarshi Siddhanta,priyadarshi siddhanta
Posted: Oct 24, 2011 at 0020 hrs IST
New Delhi The consortium of Indian companies, which has bid for the Hajigak iron ore mine in Afghanistan, has appealed to the Prime Minister’s Office (PMO) for financial assistance in executing the ambitious project. The move comes amid a growing realisation among the companies that they may not be able to mobilise adequate money to explore the mine and build infrastructure to evacuate the produce.
In a recent letter to the steel ministry, consortium chief and chairman of Steel Authority of India Ltd (SAIL) CS Verma approached the steel ministry to apprise the PMO of the need for providing money in the event of the consortium winning the bid for the Hajigak mines, for which it put out a bid on September 3.
While SAIL officials refused to comment on this issue, steel ministry officials indicated that the consortium wants financial assistance of about at least Rs 3,000 crore. “The consortium has few major players apart from SAIL and mineral giant NMDC. While the Tatas opted out of it, Essar Steel was kept out,” steel ministry sources told The Indian Express.
They said that the matter will be discussed threadbare with the consortium partners before the ministry forms its opinion on the issue.
The consortium is led by maharatna SAIL with 18 per cent shareholding while NMDC and RINL hold 17 per cent each. Among private players JSW and JSPL hold 16 per cent each, while JSW Ispat and Monnet Ispat & Energy hold 8 per cent and 4 per cent stake respectively. The announcement of preferred and reserved bidders was expected to be made by the Afghan mines ministry by October 4 but has been deferred by a month.
The consortium has planned to develop the Hajigak mines located in Afghanistan’s mountainous Bamiyan province, 130 km west of Kabul. The mines have an estimated reserves of about 1.8 billion tonnes of high-grade iron ore.
Knowing that the investments needed will be enormous in case Indian consortium won the bid and given the generally depressed financial performance of the steel companies, the consortium has sought the PMO’s approval for monetary support, sources said.
As per the bid conditions of the Hamid Karzai government, the bidders had to submit a refundable bid bond of Rs 2.5 crore each and all royalties, cess and duties will have to be paid by them. Considering that the annual investment needed would be to the tune of Rs 22.5 crore or more, the total estimated investment required would be nearly Rs 700 crore alone for setting up exploration facilities besides a huge spend to be incurred on developing the evacuation infrastructure, including setting up a railway line and setting up a steel making facility.
Rising input costs have exerted high pressures on the margins of the steel firms. SAIL registered a 29 per cent in its net profits, while Naveen Jindal promoted Jindal Steel and Power Ltd posted a 3 per cent dip in its profit margins. Similarly, Sajjan Jindal promoted JSW Steel did comparatively much better.
Express India
Priyadarshi Siddhanta,priyadarshi siddhanta
Posted: Oct 24, 2011 at 0020 hrs IST
New Delhi The consortium of Indian companies, which has bid for the Hajigak iron ore mine in Afghanistan, has appealed to the Prime Minister’s Office (PMO) for financial assistance in executing the ambitious project. The move comes amid a growing realisation among the companies that they may not be able to mobilise adequate money to explore the mine and build infrastructure to evacuate the produce.
In a recent letter to the steel ministry, consortium chief and chairman of Steel Authority of India Ltd (SAIL) CS Verma approached the steel ministry to apprise the PMO of the need for providing money in the event of the consortium winning the bid for the Hajigak mines, for which it put out a bid on September 3.
While SAIL officials refused to comment on this issue, steel ministry officials indicated that the consortium wants financial assistance of about at least Rs 3,000 crore. “The consortium has few major players apart from SAIL and mineral giant NMDC. While the Tatas opted out of it, Essar Steel was kept out,” steel ministry sources told The Indian Express.
They said that the matter will be discussed threadbare with the consortium partners before the ministry forms its opinion on the issue.
The consortium is led by maharatna SAIL with 18 per cent shareholding while NMDC and RINL hold 17 per cent each. Among private players JSW and JSPL hold 16 per cent each, while JSW Ispat and Monnet Ispat & Energy hold 8 per cent and 4 per cent stake respectively. The announcement of preferred and reserved bidders was expected to be made by the Afghan mines ministry by October 4 but has been deferred by a month.
The consortium has planned to develop the Hajigak mines located in Afghanistan’s mountainous Bamiyan province, 130 km west of Kabul. The mines have an estimated reserves of about 1.8 billion tonnes of high-grade iron ore.
Knowing that the investments needed will be enormous in case Indian consortium won the bid and given the generally depressed financial performance of the steel companies, the consortium has sought the PMO’s approval for monetary support, sources said.
As per the bid conditions of the Hamid Karzai government, the bidders had to submit a refundable bid bond of Rs 2.5 crore each and all royalties, cess and duties will have to be paid by them. Considering that the annual investment needed would be to the tune of Rs 22.5 crore or more, the total estimated investment required would be nearly Rs 700 crore alone for setting up exploration facilities besides a huge spend to be incurred on developing the evacuation infrastructure, including setting up a railway line and setting up a steel making facility.
Rising input costs have exerted high pressures on the margins of the steel firms. SAIL registered a 29 per cent in its net profits, while Naveen Jindal promoted Jindal Steel and Power Ltd posted a 3 per cent dip in its profit margins. Similarly, Sajjan Jindal promoted JSW Steel did comparatively much better.
Express India
Taliban not ready for dialogues with Karzai govt. Muhaqiq
South Asian News Agency (SANA) ⋅ October 23, 2011 ⋅
QUETTA (SANA): Leader of Hizb-e-Wehdat-e-Islami, Member Afghan Parliament and Chairman Law and Justice of National Commission for Afghanistan Ustad Muhammad Muhaqiq has admitted that Taliban are not agree for dialogues despite of Karzai desire and efforts, adding that Pakistan and Afghanistan bilaterally can meet the challenge of terrorism.
Addressing to a press conference here on Sunday Muhaqiq said that it is a state responsibility to control armed groups, adding that withdrawal of NATO forces would be beneficial for US, Pakistan and Afghanistan. Target killing of Hazara community is regrettable, he added.
He said that Afghanistan wants strong and close relations with Pakistan, adding that both brother countries have to fight against terror instead of blaming to each other.
He said that it is unfair to involve Pakistan in the killing of former Afghan president Burhanuddin Rabbani, adding that Pakistan and Afghanistan should jointly carry out investigations of the killing of Rabbani instead of leveling allegations against each other.
He said that the exchange of parliamentary delegations of both countries could result in improvement of relations between the two countries.
He said that it is not right to divide Afghanistan into north and south, adding that Afghans are one nation and they should be given the right to establish relations with the countries of world according to their interest.
Regretting at the target killing of Hazara community he said that there should be no murder on sectarian basis. I have talked prime minister about this problem.
Earlier Ustad Muhaqiq said in an interview with a private TV channel, that reconciliation process is being forwarded for peace in Afghanistan.
He said that Afghanistan wants better relationship with Pakistan despite of former Afghan president Burhanuddin Rabani murder.
Ustad Muhaqiq said about his visit in Quetta that he has arrived here for showing solidarity with Hazara community.
Replying to a question about Indian influence in Afghanistan, he said that Afghanistan wants good relations with neighboring countries.
QUETTA (SANA): Leader of Hizb-e-Wehdat-e-Islami, Member Afghan Parliament and Chairman Law and Justice of National Commission for Afghanistan Ustad Muhammad Muhaqiq has admitted that Taliban are not agree for dialogues despite of Karzai desire and efforts, adding that Pakistan and Afghanistan bilaterally can meet the challenge of terrorism.
Addressing to a press conference here on Sunday Muhaqiq said that it is a state responsibility to control armed groups, adding that withdrawal of NATO forces would be beneficial for US, Pakistan and Afghanistan. Target killing of Hazara community is regrettable, he added.
He said that Afghanistan wants strong and close relations with Pakistan, adding that both brother countries have to fight against terror instead of blaming to each other.
He said that it is unfair to involve Pakistan in the killing of former Afghan president Burhanuddin Rabbani, adding that Pakistan and Afghanistan should jointly carry out investigations of the killing of Rabbani instead of leveling allegations against each other.
He said that the exchange of parliamentary delegations of both countries could result in improvement of relations between the two countries.
He said that it is not right to divide Afghanistan into north and south, adding that Afghans are one nation and they should be given the right to establish relations with the countries of world according to their interest.
Regretting at the target killing of Hazara community he said that there should be no murder on sectarian basis. I have talked prime minister about this problem.
Earlier Ustad Muhaqiq said in an interview with a private TV channel, that reconciliation process is being forwarded for peace in Afghanistan.
He said that Afghanistan wants better relationship with Pakistan despite of former Afghan president Burhanuddin Rabani murder.
Ustad Muhaqiq said about his visit in Quetta that he has arrived here for showing solidarity with Hazara community.
Replying to a question about Indian influence in Afghanistan, he said that Afghanistan wants good relations with neighboring countries.
Tracing the lost world
It studies Hindu-Buddhist sculptural and other art traditions of the country and its neighbourhood, writes BB Kumar
Bamiyan, Hariti and Kindred Iconics
Author: Nirmala Sharma (ed)
Publisher: Aditya Prakashan
Price:Rs 1800
The book, Bamiyan, Hariti and Kindred Iconics, edited by Prof Nirmala Sharma, is an important addition to the study of the Hindu-Buddhist sculptural and other art traditions of India and its neighbourhood. The book contains 26 papers, including five on Bamiyan. It also includes a long paper on Hariti, “the mother of demons”, by N Peri.
Hsuan Tsang, who reached Bamiyan in 632 AD after an epic 10,000 mile trek along the Silk Road, gave the first historical account of the tallest Buddha: “To the north-east of the royal city there is a mountain, on the declivity of which is placed a stone figure of the Buddha, erect in length 140 or 150 feet. Its golden hues sparkle in every side and its precious ornaments dazzle the eyes by their brightness.”
Needless to say, the dazzle of colossal Buddhas was never dim throughout the centuries, and it will continue to be so even after their destruction. The Buddhas of Bamiyan influenced Buddhist sculpture elsewhere. J Hackin outlines the same in his paper — ‘The colossal Buddhas at Bamiyan and their influence on Buddhist sculpture’. Prof Ronald M Bernier’s paper — ‘Bamiyan and the international Gandhara tradition’ — deals with the importance of Bamiyan due to its trade route linkages. Bamiyan — like Ajanta in India and Dunhuang in China — “was a major pilgrimage site on a caravan route that attracted a constant stream of visitors”. Also, a famous monastery-cum-Buddhist centre of learning was located at Fondukistan, about 128 km west of Bamiyan.
From Bamiyan, the book goes on to study the Hariti phenomenon. Hariti, due to Lord Buddha’s grace, was transformed from demoness eating children’s flesh to a benevolent matron Goddess. Tracking the vast Indian and Chinese literature, Peri traces her evolution from an ogress to Yaksheshwari (queen of yakshas). But the work of Peri, as the editor rightly points out, “has not taken into account her role as giver of life, destroyer of pain throughout the universe, devoted to the happiness of the humankind”.
This study is important in a way that it hints towards superimposing legends and super-adding beliefs crossing the barriers of language, time-depth and geography. The linkages of the legends — from ritual offerings to the living beings and the spirits/protective divinities to the tantric cults — point towards the need of deeper studies. Peri writes: “It seems that to Buddhism and its personages were simply superadded the beliefs, the practices of other origin and they could not be uprooted. In fact, a number of technical terms and observances betray the persistent influence of ancient Hindu ideas. And, the Mahamayuri Sutra eulogises the maharshis who composed the Vedas and made use of mantras and magic formulae.”
The book then moves on to iconics, dealing with the Buddhist iconography of Indonesia. The study of the iconics confined to the geographical region of India includes iconography of the Hindu deities — Shiva, Parvati, Ganesha, Kartikeya, Krishna, etc. The book also talks about dance and music in Jaina paintings, along with the works of Nicholas Roerich and his son, Svetoslav.
The reviewer is the author of the book, India and Central Asia
The Pioneer
Bamiyan, Hariti and Kindred Iconics
Author: Nirmala Sharma (ed)
Publisher: Aditya Prakashan
Price:Rs 1800
The book, Bamiyan, Hariti and Kindred Iconics, edited by Prof Nirmala Sharma, is an important addition to the study of the Hindu-Buddhist sculptural and other art traditions of India and its neighbourhood. The book contains 26 papers, including five on Bamiyan. It also includes a long paper on Hariti, “the mother of demons”, by N Peri.
Hsuan Tsang, who reached Bamiyan in 632 AD after an epic 10,000 mile trek along the Silk Road, gave the first historical account of the tallest Buddha: “To the north-east of the royal city there is a mountain, on the declivity of which is placed a stone figure of the Buddha, erect in length 140 or 150 feet. Its golden hues sparkle in every side and its precious ornaments dazzle the eyes by their brightness.”
Needless to say, the dazzle of colossal Buddhas was never dim throughout the centuries, and it will continue to be so even after their destruction. The Buddhas of Bamiyan influenced Buddhist sculpture elsewhere. J Hackin outlines the same in his paper — ‘The colossal Buddhas at Bamiyan and their influence on Buddhist sculpture’. Prof Ronald M Bernier’s paper — ‘Bamiyan and the international Gandhara tradition’ — deals with the importance of Bamiyan due to its trade route linkages. Bamiyan — like Ajanta in India and Dunhuang in China — “was a major pilgrimage site on a caravan route that attracted a constant stream of visitors”. Also, a famous monastery-cum-Buddhist centre of learning was located at Fondukistan, about 128 km west of Bamiyan.
From Bamiyan, the book goes on to study the Hariti phenomenon. Hariti, due to Lord Buddha’s grace, was transformed from demoness eating children’s flesh to a benevolent matron Goddess. Tracking the vast Indian and Chinese literature, Peri traces her evolution from an ogress to Yaksheshwari (queen of yakshas). But the work of Peri, as the editor rightly points out, “has not taken into account her role as giver of life, destroyer of pain throughout the universe, devoted to the happiness of the humankind”.
This study is important in a way that it hints towards superimposing legends and super-adding beliefs crossing the barriers of language, time-depth and geography. The linkages of the legends — from ritual offerings to the living beings and the spirits/protective divinities to the tantric cults — point towards the need of deeper studies. Peri writes: “It seems that to Buddhism and its personages were simply superadded the beliefs, the practices of other origin and they could not be uprooted. In fact, a number of technical terms and observances betray the persistent influence of ancient Hindu ideas. And, the Mahamayuri Sutra eulogises the maharshis who composed the Vedas and made use of mantras and magic formulae.”
The book then moves on to iconics, dealing with the Buddhist iconography of Indonesia. The study of the iconics confined to the geographical region of India includes iconography of the Hindu deities — Shiva, Parvati, Ganesha, Kartikeya, Krishna, etc. The book also talks about dance and music in Jaina paintings, along with the works of Nicholas Roerich and his son, Svetoslav.
The reviewer is the author of the book, India and Central Asia
The Pioneer
Subscribe to:
Comments (Atom)